Chris Noble

CPA, CGMAPartner, Leader of Technology and Services Groups

Overview

Chris Noble, CPA, CGMA, is an accounting and advisory partner at Anchin with more than 20 years of experience. Chris is the Leader of the Firm’s Technology and Services Groups. He provides accounting, business and tax planning services to privately-held businesses and investors throughout the technology industry. He assists with the growth of entrepreneurial and venture/private equity-backed businesses ranging from emerging start-ups to well established technology companies.

In addition to advising on traditional financial statements and tax services, Chris is a strategic partner to his clients, providing value-added services including transaction advisory and due diligence, international accounting and tax strategies, tax credits and incentives (including the research and development tax credit), and consulting on ultimate exit and succession planning strategies. He is an advisory board member of leading technology organizations, frequently speaking and hosting industry events, and has been featured in various publications.

Chris obtained his Bachelor’s Degree in Business Administration with a focus in Accounting from Baruch College Zicklin School of Business, graduating Summa Cum Laude. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants (AICPA) and the New York State Society of Certified Public Accountants (NYSSCPA). Chris is also an integral member of Anchin’s CARE Committee, which organizes and conducts the Firm’s charity as well as recreational events.

Expertise

Accounting and Auditing

Tax Planning and Compliance

Tax Credits and Incentives

Research and Development Tax Credits

Industry Focus

Technology

Services Industries

Construction

Resources

News

The PPP Loan Program offers much needed relief to qualified businesses struggling with the challenges of the COVID-19 crisis. Yet the ongoing changes to the rules for borrowing and loan forgiveness have made navigating the program and claiming benefits challenging as well. Let’s review a key topic - the taxation of both loan forgiveness and the expenses paid with PPP Loan proceeds.

The Tax Cuts and Jobs Act (TCJA) of 2017 was generally a taxpayer-friendly legislation for the business community. However, there were several provisions in that Act that were implemented as revenue raisers to partially offset the cost of those tax breaks. One of those revenue raising provisions was the business interest expense limitation. This limitation can potentially impact construction companies of all entity types. The recently passed Coronavirus Aid, Relief and Economic Security (CARES) Act modified and increased the existing 30% business interest limitation to 50% for the years beginning with 2019 and 2020. For partnerships, this will not apply to years beginning with 2019, but only for 2020.

With Congress swiftly passing the largest economic stimulus package in history, it’s no surprise that the provisions of the CARES Act raised a significant amount of questions. In the past week alone we’ve seen more guidance and continued confusion amongst taxpayers. We hope the confusion subsides as more guidance is released over the coming days. Although we have received many questions, here are some of the most commonly asked questions we have recently discussed with technology companies.

The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) includes a wide range of financial and tax relief for businesses and individuals. The Paycheck Protection Program (“PPP”) has been the recent focus for “small” businesses. The PPP allows qualifying small businesses to borrow up to $10,000,000 based on qualified compensation paid to employees. These loans are eligible for forgiveness if the loan proceeds are used for qualified purposes during the 8-week “benefit period” that begins with receipt of the funds, based on criteria defined in the CARES Act.Evaluating your PPP spending options is crucial and could hold the key to the future survival and success of your business.Click herefor more information on PPP loan forgiveness and related documentation requirements.

As COVID-19 is rapidly creating disruption in the economy, businesses of all sizes across the globe are facing severe economic challenges. Making smart strategic decisions now will better prepare you for the uncertainty and unpredictability of the future. Anchin has some helpful hints to minimize spending and maximize your cash flow.

The Tax Cuts and Jobs Act (TCJA), which was signed into law over a year ago, has ushered in many changes that impact taxpayers, and in particular, technology companies. Following are six tax law changes that technology companies should be aware of before filing their annual income tax returns.

The Tax Cuts and Jobs Act (the “Tax Act”), which was signed into law on December 22, enacted a broad range of changes with most provisions taking effect for tax years beginning after December 31, 2017. This alert summarizes some of the key (federal) tax provisions of the Tax Act affecting the private equity industry.

The recently passed Tax Cuts and Jobs Act has attempted to cure a common problem that employees of privately held companies encounter when certain types of equity compensation convert and become income.

When making the decision about the type of entity you will choose for your business, there are many factors that need to be considered. Whether it is legal structure and liability, current and future tax implications, set up and compliance costs, or flexibility and exit strategy, there are a variety of elements which will help guide the decision.

Anchin recently sponsored Techweek New York, a week-long conference which exists to spread wealth creation to a diversity of places and people through supporting the emergence of substantial and sustainable businesses, which they call Hero Companies.

While 2016 saw somewhat of a correction in Venture Capital activity from the highs of 2014-2015, 2017 has begun a rebound and is on pace to top 2016. However, data has shown a growing disparity between the number of VC investments and the number of exits by venture-backed companies, indicating that late-stage companies have increasingly chosen to continue raising capital rather than move forward with an exit.